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Question Question 4 of 6 (1.7 points) View problem in a pon-UR 6.3 Section Exercise 22 (calc) High-rent district: The mean mo
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Answer #1

Mean, µ = 2674

Standard deviation, σ = 508

Sample size, n = 108

1) Probability that the mean is greater than 2744, P(X̅ > 2744) =

= P( (X̅-μ)/(σ/√n) > (2744-2674)/(508/√108) )

= P(z > 1.432)

= 1 - P(z < 1.432)

Using excel function:

= 1 - NORM.S.DIST(1.432, 1)

= 0.0761

b) Probability that the mean is between 2543 and 2643, P(2543 < X < 2643) =

= P( (2543-2674)/508 < (X-µ)/σ < (2643-2674)/508 )

= P(-0.2579 < z < -0.061)

= P(z < -0.061) - P(z < -0.2579)

Using excel function:

= NORM.S.DIST(-0.061, 1) - NORM.S.DIST(-0.2579, 1)

= 0.0774

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